Seamec hits 5% UC

Seamec opened for trade today at Rs.167.45 and with this hit the 5% upper circuit.

The company, which provides diving support vessel (DSV) based diving services, inked a contract yesterday. It has entered into a charter party with Dolphin Offshore Shipping for charter hire of its vessel Seamec Princess for working in Mumbai High Offshore, Heera Field, Neelam Field and Bassein Field for a firm period of 30 days with the option of extension thereafter by mutual agreement.

The charter commenced with effect from November 7, 2017.

The total value of the contract including mob/demob during the firm period is Rs. 6 crore.

The current market cap of the company is Rs.426 crore.